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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $174.12
- 2 Days on Market
- MLS # : EV21035804
- Updated Date : 02/20/2021 at 14:04
CONSTRUCTION
- Beds : 4
- Floor Size : 2,728 sqft
- Baths : 3 full
Listing Agent
Keller Williams Victor Valley
Listing Agent's Description
Exquisite property located in a lovely neighborhood! Single story with 9 ft ceilings; sun exposure, un-shaded by towering homes nearby. The property borders wilderness area and is still close to shopping and commuting. Located between the I215 and I15 freeways, easy access to either freeway in either direction is available! The home has upgrades as well from the two permitted patio covers in the back yard to the upgraded permitted electrical service upgrades in the garage and backyard for potential spa, sauna, power equipment, etc. TRULY A MUST SEE PROPERTY! DON"T MISS OUT!
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MARKET HIGHLIGHTS
- Southern California's economy is worth $1.58 trillion in Gross Metro Product and projected to grow to $1.67 trillion (USMayors.org, 2018)
- Southern California has 58.7% labor force participation rate; within this area, Los Angeles metro has 62.3% labor force participation rate (USMayors.org, 2018)
- The area has major technology nodes of excellence: Los Angeles (Media and entertainment); Pasadena (High-tech engineering, data analytics); Riverside (Agtech, transportation/ distribution); San Diego (Healthcare, biotech, wireless communications); Irvine (Medtech, cyber security); El Segundo (Aerospace and defense IT, space transport) [BCG, 2018]
- Los Angeles has been awarded the 2028 Olympics under a funding commitment of $88 billion to upgrade the transportation infrastructure connecting disparate pockets of the metro area. This is expected to produce additional employment in the coming years. (BCG, 2018)
- As part of Southern California area, Inland Empire market inherits all the benefits from the area.
- Headquarters to several Fortune 500 companies: Amgen, Farmers Insurance, Walt Disney, Avery Dennison, Activision Blizzard, CBRE Group, Edison International, Molina Healthcare, First American Financial, Pacific Life, Qualcomm and Sempra Energy (Fortune, 2018)
- Southern California area contributes to 55.3% of California state economy i.e. Gross State Product (USMayors.org, 2018)
- Southern California produces more technology PhDs per year than any other region in the country and many of the higher educated students stay within Souther California contributing to readily available workforce skills making the area more attractive than Silicon Valley (BCG, 2018)
PRICE & RENT TRENDS
Neighborhood: Wildomar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Wildomar
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,460 |
| EXPENSES | Loan Payment | -$1,650 |
| Property Tax | -$421 | |
| Property Insurance | -$93 | |
| HOA | -$84 | |
| Property Management Fees | -$145 | |
|
CASH FLOW
$66
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 13% of earned rent to cover both maintenance and periods of vacancy.
$475,000
PROJECTED PRICE
$2,460
PROJECTED RENT
0.52%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.96% |
| Appreciation Year (1-5) | 7.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 5.43% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$131,625
LOAN DETAILS
$1,650
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $118,750 |
| Loan Amount | $356,250 |
6.42
YEARS SAVED
$36,347
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,460
LIST RENT -
$0.9
LIST RENT PER SQFT
-
$2,708
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
-
35782 Butchart Street Wildomar, CA 1
- 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,728 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $2,460
- $0.90
-
23594 Millstone Place Murrieta, CA 2
- 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 1992
LEASED 10/01/20- Rent
- Rent Per SQFT
- $2,650
- $1.03
-
35706 Verde Vista Way Wildomar, CA 3
- 5 beds 3 baths ∙ 2,728 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,728 Sqft ∙ Built 2006
LEASED 12/10/20- Rent
- Rent Per SQFT
- $2,700
- $0.99
-
40886 Bouvier Court Murrieta, CA 4
- 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,897 Sqft ∙ Built 2002
LEASED 08/11/20- Rent
- Rent Per SQFT
- $2,750
- $0.95
-
26508 Veramonte Avenue Murrieta, CA 5
- 4 beds 4 baths ∙ 2,802 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,802 Sqft ∙ Built 2005
LEASED 06/29/20- Rent
- Rent Per SQFT
- $2,795
- $1.00
PROPERTY LISTING DETAILS
Keller Williams Victor Valley
1.866.250.5610
HomeUnion.com
Lic. BRE# 01526904
MLS #: EV21035804
Last Updated: 02/20/2021
